New York Residents Now Able To Access Zero-Fee Robinhood trading app

Zero-Fee Robinhood trading app

New York Residents Now Able To Access Zero-Fee Robinhood trading app

Zero-Fee Robinhood trading app

Robinhood, a California-based stock brokerage firm that allows users to trade US listed stocks, exchange-traded-funds (ETFs), and cryptocurrencies while paying zero commissions received a BitLicense and a money transmitter license in January 2019.

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On May 23rd, 2019, Robinhood’s management announced that New York residents may purchase cryptoassets through the trading platform’s app. Robinhood app users can buy seven different digital assets including bitcoin (BTC), bitcoin cash (BCH), bitcoin SV (BSV), ether (ETH), ethereum classic (ETC), litecoin (LTC), and dogecoin (DOGE).

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Also, users can track the price movements of these cryptoassets and 10 other major cryptos. Robinhood’s official website reports that the company’s digital asset trading services are currently available in 39 U.S. states.

In late March 2019, Robinhood acquired MarketSnacks, a “top rated” financial news media outlet and podcast.

Robinhood’s management has also rebranded the newsletter to “Robinhood Snacks,” and it has reportedly decided to focus on providing the stock trading app’s millennial audience the latest financial news.

Josh Elman, the VP of Product at Robinhood, while commenting on the firm’s acquisition wrote:

We improved ​market news​ coverage on our platform, added discovery tools on mobile, and revamped our Help Center to better answer your questions. Robinhood Snacks is a major step towards building out these resources and helping you get more informed on market news.

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